NEW YORK, N.Y., September 21, 2009 - New York Life Insurance Company has announced the appointment of Paul Pasteris to its Executive Management Committee. Mr. Pasteris is senior vice president and chief operating officer for U.S. Life Insurance where he is responsible for overseeing Individual Life, Group Membership and the Tampa Operations, which serve the company's exclusive, endorsed programs with AARP. He reports to Mark Pfaff, executive vice president in charge of U.S. Life and Agency.
The Executive Management Committee is comprised of New York Life's senior executive leadership and assists the CEO in setting policy for the company.
"We are proud to welcome Paul to the Executive Management Committee," said Ted Mathas, Chairman, President and CEO of New York Life Insurance Company. "Paul has done a superb job in a number of key assignments since joining the Company in 2005, including a leadership role in Retirement Income and oversight of our Special Markets operation. Paul's experience and knowledge will be a valuable addition to the Committee as it sets policy for the continued growth of the company."
Mr. Pasteris joined New York Life in 2005 as senior vice president in charge of Retirement Income. In 2007 he added New York Life's Special Markets businesses to his portfolio and in the fall of 2008 he was named to his current role. Prior to joining New York Life, Mr. Pasteris spent seventeen years with Massachusetts Mutual Life Insurance Co., where he was president of its Financial Products Division. Before that he led the company's mergers and acquisitions department, and prior to that was head of corporate strategy. Mr. Pasteris graduated from Duke University in 1980 with a degree in management sciences. He and his wife Trudy have three children.
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments* provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds. Visit New York Life's Web site at www.newyorklife.com for more information.
*New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.
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